Pharma, time to market, processes

Generic activities are one of the most important growth levers for pharmaceutical companies, and in a competitive space like this one, speed to market is paramount. 

A survey performed by RephineSourcing.com shows that more than 65% of individuals asked consider the overall approval process to take longer than 7 months. In fact, practice shows that this process often takes up to TWO YEARS!

(for further facts, please refer to the survey by clicking on the link below)

We know there are both incompressible and compressible steps in the approval process. One of those which are compressible is the pre-selection process: from blank search until a short list of suppliers is set.

This process is shown to commonly take more than 2 months.

In other words, an effective sourcing process could speed up the time to market by at least one to two months, which represents on average 4-8% of the overall sourcing process!

The pharma industry is slowly evolving, and it looks to me that it is time to take advantage of modern technologies to do something about this pre-selection process which equals to dead time... 

I'm keen on getting your views on that!

For the facts, it's right here: https://www.dhirubhai.net/feed/update/urn:li:activity:6390189798291750913